Targa Resources (TRGP)
NYSEEnergyOil & Gas MidstreamSnapshot 2026-10-30
$314.99+0.84%
Close 2026-10-30 · 1-day change
NYSEEnergyOil & Gas MidstreamSnapshot 2026-10-30
Research Workspace
Put TRGP beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Energy is in expansion. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Management is running behind on a stated commitment.
View ThesisRevenue is contracting — down about 2% over the past year.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityManagement screens strong on capital allocation.
View ManagementExpectations look high — the market is pricing in about 72% growth a year, above the roughly 36% analysts expect, leaving little room for error.
View ValuationRelatively steady — typically moves about 1% a day.
View RiskTRGP’s Permian infrastructure expansions need to drive growth despite slowing revenue momentum. Revenue growth eased from 10% to 4%, and Q2 FY2026 GAAP EPS missed consensus. The shares trade at 28× P/E versus a 22× peer median, near their 26× history. The market prices in more growth than our forecast. The risk is a 26% next-quarter miss probability, alongside management running behind on a stated commitment. Peer multiples imply a price about 71% below where it trades; the thesis is on watch. This read is provisional.
Trailing returns as of 2026-10-30. TRGP is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 22 analysts currently covering TRGP (as of Oct 2026).
Based on 14 Wall Street analysts offering 12-month price targets for TRGP in the last 4 months.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| TRGP Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 11 valuation methods, at three horizons. As of 2026-10-30. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Oil & Gas Storage & Transportation — fair value, gap to price, and forward P/E.
Compare the value case
Put TRGP next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Recommend $5.00 annual dividend per share in 2026
Dividend declaration supports management's capital allocation objective.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-10-30. EPS is implied from price ÷ P/E. Not investment advice.
Current $314.99
The last 12 months of price, then the range of analyst 12-month targets from today’s $314.99.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Bottom 25% on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Threatens: Maintain 2026 net growth capital expenditures at $4.5 billion
Capex outlook cut may hinder growth capital expenditures.
Advances: Increase 2026 adjusted EBITDA estimate
Record quarter supports growth in adjusted EBITDA estimate.
Advances: Execute Permian Basin infrastructure expansions
Upgrade reflects positive sentiment on Permian Basin expansions.
Advances: Execute Permian Basin infrastructure expansions
ExxonMobil deal supports Permian Basin infrastructure expansions.
Advances: Execute Permian Basin infrastructure expansions
Positive deal enhances growth prospects in Permian Basin.
Advances: Execute Permian Basin infrastructure expansions
New agreements and plants support Permian Basin expansion.
Advances: Increase 2026 adjusted EBITDA estimate
Record results likely boost adjusted EBITDA estimates.